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Dec 30, 2012 12:35am EST
-and-trade with offsets. [applause] >> so let's talk about that california system. it's a law signed by governor schwarzenegger ab 32. cap-and-trade is 20% of that system. it gets most of the political attention and oomph and you're a critic of cap-and-trade because -- >> because it's not -- it's half assed. [laughter]. it's going -- >> because they gave away too many free allowances to polluters? >> you know, so there was this waxman-markey bill, 3,000 pages long. the lobbyists controled that so that it had giveaways to utilities, to fossil fuel industry and it brings big banks into it. why do you want big banks in this problem? why should they be making money? every cent that they make is coming out of the public's hide and they add absolutely nothing. what you want is a system which is very simple, and it makes clear. you know, there's this -- people will see in the marketplace that's something that is using fossil fuels is gonna cost more because of that carbon price, and so they will make their decisions based on that, and there's no money going to banks at all. you don't want a system with
Search Results 0 to 1 of about 2 (some duplicates have been removed)